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Magna Amends Normal Course Issuer Bid to Increase Purchase Limit

AURORA, ON, May 13, 2014 /CNW/ - Magna International Inc. (TSX: MG, NYSE: MGA) announced today that it has received approval from the Toronto Stock
Exchange ("TSX") to amend its normal course issuer bid (the "Bid") in
order to increase the maximum number of Common Shares that may be
purchased under the Bid from 12,000,000 Common Shares, representing
approximately 5.4% of its public float, to 20,000,000 Common Shares,
representing approximately 9.0% of its public float (each as of
November 6, 2013, the reference date for the Bid). The increased
purchase limit under the Bid will be effective May 16, 2014. No other
terms of the Bid have been amended.

The Bid commenced on November 13, 2013 and will terminate on November
12, 2014. All purchases of Common Shares under the Bid may be made: (i)
on the TSX in accordance with the rules and policies of the TSX, (ii)
on the New York Stock Exchange in compliance with Rule 10b-18 under the
U.S. Securities Exchange Act of 1934, (iii) on other published markets,
or by such other means as may be permitted by the TSX, and/or (iv)
pursuant to private agreement purchases from arm's length third-party
sellers under issuer bid exemption orders previously granted to Magna.
The rules and policies of the TSX contain restrictions on the number of
shares that can be purchased under the Bid, based on the average daily
trading volumes of the Common Shares on the TSX. Similarly, the safe
harbor conditions of Rule 10b-18 impose certain limitations on the
number of shares that can be purchased on the NYSE per day. As a result
of such restrictions, subject to certain exceptions for block
purchases, the maximum number of shares which can be purchased per day
during the Bid on the TSX is 141,772 based on 25% of the average daily
trading volume for the prior six months (being 567,087 Common Shares on
the TSX as of the November 6, 2013 reference date). Subject to certain
exceptions for block purchases, the maximum number of shares which can
be purchased per day on the NYSE will be 25% of the average daily
trading volume for the four calendar weeks preceding the date of
purchase. All purchases will be subject to Magna's normal trading
blackouts. The Corporation's automatic securities purchase plan entered
into with a broker on March 31, 2014 remains unchanged. As of May 9,
2014, the Corporation has repurchased 6,626,823 Common Shares under the
Bid. Subject to regulatory requirements, the actual number of Common
Shares purchased, and the timing of such purchases, if any, will be
determined by Magna having regard to future price movements and other
factors.

ABOUT MAGNA

We are a leading global automotive supplier with 315 manufacturing
operations and 82 product development, engineering and sales centres in
29 countries. We have over 128,000 employees focused on delivering
superior value to our customers through innovative products and
processes, and World Class Manufacturing. Our product capabilities
include producing body, chassis, interior, exterior, seating,
powertrain, electronic, vision, closure and roof systems and modules,
as well as complete vehicle engineering and contract manufacturing.
Our Common Shares trade on the Toronto Stock Exchange (MG) and the New
York Stock Exchange (MGA). For further information about Magna, visit
our website at www.magna.com.

FORWARD-LOOKING STATEMENTS

This press release may contain statements that, to the extent that they
are not recitations of historical fact, constitute "forward-looking
statements" within the meaning of applicable securities legislation,
including, but not limited to, future purchases of our Common Shares
under the Normal Course Issuer Bid. Forward-looking statements may
include financial and other projections, as well as statements
regarding our future plans, objectives or economic performance, or the
assumptions underlying any of the foregoing. We use words such as
"may", "would", "could", "should" "will", "likely", "expect",
"anticipate", "believe", "intend", "plan", "forecast", "outlook",
"project", "estimate" and similar expressions suggesting future
outcomes or events to identify forward-looking statements. Any such
forward-looking statements are based on information currently available
to us, and are based on assumptions and analyses made by us in light of
our experience and our perception of historical trends, current
conditions and expected future developments, as well as other factors
we believe are appropriate in the circumstances. However, whether
actual results and developments will conform to our expectations and
predictions is subject to a number of risks, assumptions and
uncertainties, many of which are beyond our control, and the effects of
which can be difficult to predict. These risks, assumptions and
uncertainties include, without limitation, the impact of: economic or
political conditions on consumer confidence, consumer demand for
vehicles and vehicle production; fluctuations in relative currency
values; legal claims and/or regulatory actions against us; liquidity
risks as a result of an unanticipated deterioration of economic
conditions; the unpredictability of, and fluctuation in, the trading
price of our Common Shares; changes in laws and governmental
regulations; and other factors set out in our Annual Information Form
filed with securities commissions in Canada and our annual report on
Form 40-F filed with the United States Securities and Exchange
Commission, and subsequent filings. In evaluating forward-looking
statements, we caution readers not to place undue reliance on any
forward-looking statements and readers should specifically consider the
various factors which could cause actual events or results to differ
materially from those indicated by such forward-looking statements.
Unless otherwise required by applicable securities laws, we do not
intend, nor do we undertake any obligation, to update or revise any
forward-looking statements to reflect subsequent information, events,
results or circumstances or otherwise.